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News Corp. Won't Fight
AOL-Time Warner Deal

By

Martin Peers and

Nick WingfieldStaff Reporters of The Wall Street Journal

Updated July 27, 2000 12:01 a.m. ET

News Corp. signaled it won't join the growing number of entertainment companies lobbying against America Online Inc.'s proposed acquisition of Time Warner Inc., with a top News Corp. executive saying the transaction should be left to the "marketplace."

But another prominent entertainment-industry figure, USA Networks Inc. Chairman Barry Diller, said he was concerned about the deal and was weighing whether to make comments to federal regulators about it. Mr. Diller said during a news briefing about USA's quarterly...